Bio-Based Polymers Catching Up

A recent market study estimates the annual growth of bio-based polymers to be 17% between 2023 and 2028. Especially the demand from Asia and the USA is driving the growth, while Europe is lagging behind, according to the new market and trend report from the Nova Institute.

The year 2023 was a promising year for bio-based polymers: PLA capacities increased by almost 50%, and both polyamide capacities and epoxy resin production show steady growth. Capacities for 100% bio-based PE were also expanded. Bio-based PE and PP from bio-based naphtha were able to establish themselves further with increasing quantities. Current and future expansions for PHAs are still in the planning stage.

In 2023, the production volume of all bio-based polymers amounted to approximately 4.4 million tons. This corresponds to 1% of the production volume of fossil-based polymers. The average annual growth rate (CAGR) for bio-based polymers, at 17%, is significantly higher than the overall growth of the polymer market (2 to 3%)—this trend is expected to continue until 2028.

The new market and trend report, "Bio-based Building Blocks and Polymers – Global Capacities, Production, and Trends 2023-2028," authored by the international Biopolymer Expert Group of the Nova Institute, provides capacities and production data for 17 commercially available bio-based polymers in 2023 and includes a forecast for 2028. The report is now available in full length as well as a freely accessible short version here.

This text was first published on www.packreport.de.